Macdonald cites exceptional technology, outstanding team and opportunity to scale across North America as strengths of growing Canadian proptech company
TORONTO, July 9, 2019 /CNW/ - Parity, a Canadian property technology (proptech) company using artificial intelligence (AI) to eliminate energy waste in multi-residential buildings, is pleased to announce it has appointed energy veteran John Macdonald as the company's Chair of the Board. Mr. Macdonald joins the company's efforts to make urban living more sustainable.
Among his many accomplishments, Mr. Macdonald was the first employee and CEO of Enercare, which has grown to be North America's largest heating, ventilation, and air conditioning (HVAC) company. Under his leadership, Enercare acquired and integrated seventeen companies with a total investment over $1 billion. The company also entered the energy conservation market with the launch of an energy metering business, and is now the largest and most profitable provider of these services in Canada. In 2018, Mr. Macdonald left Enercare when it was acquired by Brookfield for $4.3 billion.
"We are thrilled to welcome John to the Parity team," says Brad Pilgrim, CEO, Parity. "His unrivalled experience and expertise in the energy and technology sectors are tremendous additions to our overall offering and our ambitious strategic plans."
Parity' Energy Management Platform controls existing HVAC equipment in multi-residential buildings with AI to deliver 30-40 per cent energy savings. The company's capital-light, non-intrusive model stands in contrast to more traditional energy retrofits, which typically require substantive investments in equipment and can be disruptive to occupants.
Parity recently closed a Series A investment with ArcTern Ventures, a leading North American cleantech venture fund. The $5 million round will be used to fund Parity's expansion into the US market. As Board Chair, Mr. Macdonald's experience will be instrumental in helping position Parity as a leader in North America.
"Parity is at the forefront of a true revolution," says Mr. Macdonald. "We are only beginning to scratch the surface of how much smarter our buildings and urban environments can be. I am proud to join a team of visionaries who are passionate about applying industry-leading AI to not only deliver guaranteed energy savings to clients but also serve a greater social good, reimagining energy use on a significant, disruptive scale."
For more information, visit www.paritygo.com
Established in 2016, Parity helps make urban living more sustainable by eliminating energy waste in multi-residential buildings. The company's artificial intelligence (AI)-driven Energy Management Platform offers guaranteed energy savings while maintaining maximum comfort for building residents. Trusted by a growing number of property managers, condo boards and mechanical partners, Parity's realtime dashboard and monthly reporting keep stakeholders always in the loop and in full control.
SOURCE ParityGo Inc.
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